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2) Collection of sales proceed: All sales are expected to be carried out on credit. According to company records, its credit customers are expected to
2) Collection of sales proceed: All sales are expected to be carried out on credit. According to company records, its credit customers are expected to pay 70% in the month of sale and 28% in the next month. Those customers who pay in the sales month are given 2% cash discount from the invoice price. The remaining trade receivables are expected to be uncollectible
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